But the Financial Services Authority is to ban these regular payments.

Instead, investment houses are launching so-called ‘clean’ versions of their funds with AMCs of 0.75 per cent.

Fund supermarkets must add their own explicit fees on top to offer these deals.

Charles Stanley charges just 0.25 per cent — bringing the total to 1 per
cent. This is far less than Fidelity, which charges the full 1.5 per
cent, or Hargreaves Lansdown, which typically charges 1.25 per cent.

Someone who put £250 a month into the Artemis Income fund through
Charles Stanley would have £40,731 after ten years, according to
comparison website comparefundplatforms.com.

This presumes 7 per cent growth before charges.

The next best total is £40,710 at Cavendish Online, while Fidelity would return £39,664.

A £25,000 lump sum would be worth £44,603 after 10 years with Charles Stanley - just behind the best return of £45,006 at Alliance Trust.